Federal government over-regulation of the nation’s economy did almost $2 trillion of damage last year, the 2020 edition of the Ten Thousand Commandments report states.
The report, produced by The Competitive Enterprise Institute (CEI) every year, found the aggregate economic cost of federal regulation is more than $1.9 trillion per year, which amounts to $14,000 per U.S. household each year, approximately one-fifth of the average household budget.
“Federal government spending, deficits, and the national debt are staggering, but so is the impact of federal regulations,” the report states. “Unfortunately, the financial impact of these rules gets little attention in policy debates because, unlike spending and taxes, they are unbudgeted and difficult to quantify.”
CEI’s report includes the most recent “Unconstitutionality Index,” a ratio of rules issued by agencies compared to federal laws passed in Congress and signed by the president. In calendar year 2019, Congress enacted 105 laws, whereas federal agencies issued nearly 3,000 rules, the study found. That put the 2019 Unconstitutionality Index at 28, more than double the 2018 score of 11.
More HERE
